Press Release /
November 29, 2007

Universal Insurance Holdings, Inc. and Atlas Premium Finance Company Announce the Formal Launch of Atlas’ Premium Finance Business


FORT LAUDERDALE, FL — (MARKET WIRE) — 11/29/2007 — Universal Insurance Holdings, Inc. (UIH) (AMEX: UVE), a vertically integrated insurance holding company, and Atlas Premium Finance Company (Atlas), announce the formal launch of Atlas’ premium finance business. Atlas will offer insurance premium finance services to customers with annual homeowners insurance premiums of at least $1,000. Premium finance services will be available to homeowners policyholders insured by UIH’s wholly owned subsidiary Universal Property & Casualty Insurance Company (UPCIC), as well as to other homeowners insurance customers across Florida. Approximately 188,000 of UPCIC’s 370,000 homeowners insurance policyholders have annual premiums of at least $1,000.

To fund its operations, Atlas has agreed to an initial finance facility of $12 million with Flatiron Capital Corp., a premier funding partner to the commercial property and casualty insurance industry owned by TD Banknorth, N.A. The funding is secured by Atlas’ finance contracts. The Company expects that it will be able to increase its finance facility with Flatiron or secure financing with other parties as conditions require.

Bradley I. Meier, president and chief executive officer, commented, “Atlas Premium Finance Company is positioned to assist Floridians in paying for their homeowners insurance premiums. Atlas will provide premium finance loans for property and casualty coverage as an alternative and flexible way to pay for insurance.

“Our agents have asked for our assistance in funding insurance premiums for their clients in response to increased costs of homeowners insurance in Florida,” continued Meier. “Through Atlas we will provide a variety of programs, services and technology that will allow our agents and brokers to better serve their clients.”

Meier concluded, “With the recently completed testing of Atlas’ systems, we are now in a position to expand the rollout of this initiative to additional insurance agencies over the next few months.”

UIH recently requested the Florida Office of Insurance Regulation’s approval of a transaction by which UIH acquired Atlas. Two of UIH’s officers previously had purchased Atlas as a dormant premium finance company with no active business. To consolidate insurance-related activities, UIH and its officers transferred Atlas to UIH for consideration equal to Atlas’ book value and maintenance costs, subject to Florida Office of Insurance Regulation approval.

About Universal Insurance Holdings, Inc.

The Company is a vertically integrated insurance holding company operating solely in the state of Florida. Through its subsidiaries, the Company is currently engaged in insurance underwriting, distribution and claims. Universal Property & Casualty Insurance Company (UPCIC), which generates revenue from the collection and investment of premiums, is one of the top five leading writers of homeowners insurance in the state of Florida and has aligned itself with well respected service providers in the industry.

Readers should refer generally to reports filed by the Company with the Securities and Exchange Commission (SEC), and specifically to the Company’s Form 10-KSB for the year ended December 31, 2006 for a discussion of the risk factors that could affect its operations. Such factors include, without limitation, exposure to catastrophic losses; reliance on the Company’s reinsurance program; underwriting performance on catastrophe and non-catastrophe risks; the ability to maintain relationships with customers, employees or suppliers; and competition and its effect on pricing, spending, third-party relationships and revenues. Additional factors that may affect future results are contained in the Company’s filings with the SEC, which are available on the SEC’s web site at The Company disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise.

Cautionary Language Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate” and “project,” and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans, and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described in forward-looking statements.



Philip Kranz  
Dresner Corporate Services